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The U.S. diabetes drugs market size was worth USD 30.47 billion in 2022 and is projected to grow at a CAGR of 7.6% during the forecast period.
The prevalence of diabetes is increasing across the U.S. owing to poor diet, lack of physical activity, sedentary lifestyle, and obesity in all age groups among the population. This scenario has led to an increased demand for advanced diabetes drugs, further propelling market growth.
The COVID-19 pandemic had a negative impact on the market progress in 2020, owing to a decline in the sales of diabetes drugs across retail channels and disruptions in the supply chain of these drugs across the globe.
Rise in Presence of Biosimilars Across the Country
The demand for cost-effective diabetes drugs is increasing among the population owing to the high cost of conventional drugs used for the treatment of this ailment. Thus, several key players are now focusing on introducing safe, high-quality, and biologically similar products nationwide for treating diabetes.
Therefore, the rising introduction of biosimilar drugs by key players and the rise in patient awareness will aid the U.S. diabetes drugs market growth.
Rising Use of Inorganic Strategies by Industry Players to Augment Market Development
The leading market players in the U.S. are emphasizing the development of advanced drugs that are similar to traditional diabetes drugs, such as insulin glargine, by acquiring other key players in the market.
Such initiatives will further expand the existing diabetes drugs product portfolio of key players, thereby propelling market growth.
High Cost of Diabetes Drugs to Restrain Market Growth
The financial burden of diabetes treatment on the U.S. population is high. Moreover, prices of advanced diabetes drugs, such as insulin, are rising due to the high costs sustained by key players from introducing incremental improvements to the processing of these drugs.
Thus, the high price of diabetes treatment in the U.S. compared to other developed countries might limit the adoption of these drugs in the market.
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The number of people diagnosed with diabetes in the U.S. was higher than that of other developed countries, such as the U.K. (3.5 million) and Australia (1.3 million) in 2022.
Based on drug class, the market is segmented into insulin, DPP-4 inhibitors, GLP-1 receptor agonists, SGLT2 inhibitors, and others.
The GLP-1 receptor agonists segment held a larger market share in 2022 owing to the increasing demand for and sales of these drugs among the population due to their extensive advantages over conventional insulins. These include improved blood sugar control and weight loss.
Based on diabetes type, the market is segmented into type 1 diabetes and type 2 diabetes.
The type 2 diabetes segment held a dominant share of the market. The segment’s higher share was attributed to an increase in the prevalence of type 2 diabetes among the adult and young population across the country compared to type 1 diabetes.
On the basis of route of administration, the market is segmented into oral, subcutaneous, and intravenous.
The subcutaneous segment held a larger share of the U.S. market in 2022. This was due to increased administration of insulin through the subcutaneous route and a rise in self-administration of insulin among diabetic patients.
On the basis of distribution channel, the market is segmented into online pharmacies, hospital pharmacies, and retail pharmacies.
The retail pharmacies segment held a dominant share of the U.S. market in 2022. The segment’s dominance was attributed to the increased demand for diabetes drugs among the population due to high disease prevalence across the nation. Moreover, increasing the presence of these prescription drugs by launching them across retail stores and pharmacies will further propel the segment’s growth.
Novo Nordisk A/S Dominates the Market due to Extensive Diabetes Drugs Portfolio
The U.S. market is highly concentrated due to the presence of major players, such as Novo Nordisk A/S, Sanofi, and Lilly. Novo Nordisk A/S is estimated to dominate the market during the forecast timeframe owing to its extensive diabetes drugs portfolio and increasing emphasis on the production and launch of advanced drugs in the U.S. market.
Other major players, such as Sanofi and Lilly held a significant U.S. diabetes drugs market share owing to their high focus on mergers and acquisitions of other industry players with significant diabetes drug portfolios in the country. Other significant players operating in this market are Novartis AG, Boehringer Ingelheim International GmbH, AstraZeneca, Merck & Co., Inc., and others.
An Infographic Representation of U.S. Diabetes Drugs Market
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An Infographic Representation of U.S. Diabetes Drugs Market
To get information on various segments, share your queries with us
The report provides a detailed analysis of the market. It focuses on key aspects, such as an overview of the prevalence of diabetes in the U.S., drug class, product launches, key industry developments, such as mergers, partnerships, acquisitions, and the impact of COVID-19 on the market. Besides this, it also offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market in recent years.
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ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Unit | Value (USD Billion) |
Growth Rate | CAGR of 7.6% from 2023 to 2030 |
Segmentation | By Drug Class
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By Diabetes Type
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By Route of Administration
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By Distribution Channel
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Fortune Business Insights says that the U.S. market was worth USD 30.47 billion in 2022.
The market is expected to exhibit a CAGR of 7.6% during the forecast period of 2023-2030.
By drug class, the GLP-1 segment accounts for a considerable share of the market.
Novo Nordisk A/S, Sanofi, and Lilly are the top players in the market.
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